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Edexcel Theme 1 Business - markets Flashcards | StudBud

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The odd one out is?

What factor does not influence Price Elasticity of Demand?

Edexcel Theme 1 Business - markets

13 terms·StudBud Administration·479 plays

Markets and marketing from theme 1

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Questions 13

Answers

1
What factor does not influence Price Elasticity of Demand?
Brand power
Percentage of income spent on item
Availability of substitutes
Colour
2
The odd one out is?
Growth
Maturity
Age
Decline
3
Where supply and Demand intersect, this is known as?
umbrella
quantity
equilibrium
price
4
Spot the odd one out:
Cash cow
Dog
Little gem
Problem child
5
A benefit of primary market research is most likely to be:
Tends to be out of date
Easier to collect
It tends to be cheaper
It is carried out for a specific purpose
6
Which is the odd one out
Sofa
Sellotape
Hoover
Prit Stick
7
Which one is a benefit of operating in a niche market?
Ability to mass produce
Ability to charge higher prices
Products are price elastic
More sales
8
Which is the odd one out?
Government subsidies
Income levels
Cost of labour
Cost of raw materials
9
What two factors shift the demand curve?
Rising incomes and falling price
Price and substitute products
Advertising and changes in income
Change in labour costs and advertising
10
Spot the odd one out:
Telephone survey
Focus group
Observation survey
Census
11
The formula for Income elasticity of demand is:
% change in Quantity / % change in Price
% change in Quantity / % change in Income
Change in Y / Change in QD
Increase in incomes / population
12
A good with a positive Income elasticity of demand is said to be:
a normal good
a budget good
a service
an inferior good
13
Setting price of a product high and dropping the price as other firms bring out similar goods?
Cost-plus
Price skimming
Penetration pricing
Price discrimination